Dorel (TSX: DII.B) was in the process of going private. Their previous bid had been CAD$14.50, but today they announced this will rise to CAD$16.00.
This post is not to discuss the valuation of the offers, but to highlight a trend of increased bids:
Rocky Mountain Equipment: CAD$7.00 -> CAD$7.41
Great Canadian Gaming: CAD$39.00 -> CAD$45.00
Dorel: CAD$14.50 -> CAD$16.00
Dorel’s bid was already somewhat anticipated by the market, where at around Christmas they started to trade over the CAD$14.50 threshold:
One can have hope for Atlantic Power, but I’m not holding my breath!
Dorel’s going-private transaction was scrapped today due to shareholder opposition. Given management compensation levels, I very much doubt they will be on the streets anytime soon…
Would you consider them undervalue though at current prices?
I would have taken the deal personally.